China’s $4,500 cheap electric car has overtaken the world’s largest electric car maker Tesla.
The small electric car made by China’s state-owned automaker SAIC Motors is proving extremely popular with consumers.
Named as Hong Kong Mini EV, the car is being developed in collaboration with General Motors, a leading US carmaker. This partnership is locally known as Wolling.
Last month, sales of these EVs in China doubled compared to Tesla’s, and the worth $4,500 Hong Kong Mini is the most popular.
Its air-conditioned model sells for $5,000 and is being touted as a ‘public transport’ in its publicity campaign.
Automotive experts say there is no doubt that Chinese electric vehicles lag behind Tesla in terms of technology.
Their battery and performance are also not up to the mark, but on the other hand, it is speedy and low cost. New Energy is one of the best-selling cars in China.
The Wolling car was introduced last year and has a top speed of 100 kilometers per hour and can seat barely four people at a time.
The Chinese government is very keen on reducing pollution, and in this regard, it wants to be at the vanguard of the use of electric cars in the world. One expert added, he believed that people would be more inclined to use them.
Even more expensive electric cars, such as the Neon and Tesla, would become more prevalent in China.
The Chinese government has given consumers various incentives to use electric cars, such as giving away free number plates.
In many cities in China, it takes several months to get a number plate for ordinary petrol-powered vehicles, which is also auctioned.
Competing with Tesla:
The Hong Kong Mini EV sold more than 100,000 vehicles in the last six months of last year, while Shanghai-based Tesla’s Model 3 was the first to market.
But earlier this month, Chinese authorities summoned Tesla because of problems with safety standards and vehicle manufacturing standards at their factory.
It is worth noting that China is the largest market for Tesla after the United States.
But as of January this year, two Hong Kong mini-cars are being sold for each Tesla car. It is believed that the Hong Kong Mini is the most popular electric car in the world after Tesla’s Model 3.
According to the China Passenger Car Association, 25,778 Hong Kong Mini vehicles were sold in January 2021, while a total of 13,843 Tesla Model 3 vehicles were sold.
Due to local production, the Tesla Model 3 is slightly cheaper in China and sells for $ 39,000.
In the future, Hong Kong money may be available outside of China as Wooling has announced that it intends to export its vehicles.
Sam Fiorani of AutoForcast Solutions says China has many small and affordable electric car companies, but their quality is low, and they are low-speed vehicles, which makes them very popular.
“But for the first time, a major electric car maker like Hong Kong Mini has attracted customers who want a good, quality car.”
There have also been reports that an agreement is being reached between a European Latvian company and Wooling to sell cars, but their prices could be much higher due to compliance with environmental laws in Europe.